“The Current Account Switch Service (CASS) usually takes seven working days to switch a current account. However, the process can take longer if you choose a specific switch date”
From the horses mouth (CASS)
EDIT: I wasn’t sure either so googled it. I’m sure someone previously also called out FD for doing this.
Hypothetically, with the closure of Zing, what would happen if they decided to do the same to First Direct?
I guess they’d look at integrating customers into HSBC rather than completely pulling the plug like they’ve done with Zing.
Totally different things. One was the public version of HSBC Global Money which, I suspect, was their way of hoping to gain new custom which didn’t happen. The other is a wholly separate bank who’s only real link to HSBC is they got it when they bought Midland in the 1990s.
If anything happens it’d be natural decline over years before closure or acquisition.
First Direct might be run separately, but it’s not a separate bank. It’s just a trading name of HSBC. It isn’t registered as a separate company, nor does it have a separate banking licence.
Sorry, I didn’t mean in a literal sense, but it reads that way. You are correct that it runs fully under the HSBC hood.
Wasn’t Zing built using Monese tech? The whole product probably wasn’t profitable and there’s already well established alternatives like Wise and the HSBC Global Money thing - although that came after? Which confuses me why they even bothered to release Zing if the HSBC version was on the horizon.
I think they would probably integrate FD into HSBC.
Zing was a totally separate platform, using 3rd party tech. Not connected to Global Money at all which is an in-house HSBC product.
HSBC Global Money came first and was launched in 2020 in the USA. The UK version came in October 2022.
The idea behind Zing was to target non HSBC customers - and it seems to have been a victim of office politics (the guy in charge left when he didn’t get the top job).
Felt like Zing wanted the revolut/wise market thinking people would jump to them, being backed by HSBC.
No FSCS, or anything special, just made it moot and become its own failure.
I understand but principally wasn’t that whole reason they divested from Monese and went in on Zing to market it as such?
I wonder what’s next for Global Money? I’ve always found it to be pretty decent.
I didn’t see the point of Zing when HSBC Global Money exists
I think that Zing used a lot of the Monese backend/SAAS.
Being able to transfer/hold foreign currency balances I assume!
There is truth in that statement, I can draw this from a number of sources (having been with both for a long time).
I think you’re right in that there’s a lot of interchangabiltiy between the two and shared systems (the UK ‘Premier line’ being clearly an FD call centre for one) - but the card itself works exactly the same as the HSBC ones do, bar notifications. It may was well say HSBC on it 
What are FD spend notifications like? I should probably use my card and see what pops up.
They’re neat and on time. Unlike HSBC layout.
Just out of interest, does First Direct ever increase the credit limit of their Gold Card themselves, or do you have to ask for it?
I last increased mine in 2015 by phoning up, never had any invite or offer from them to increase it since.
Same, has never been increased automatically, and I’ve had my Gold Card for around 4 years. Haven’t needed to increase mine though so never called to ask.
How much have you been using it though?